While the use of Bitcoin (BTC) and cryptocurrencies in our daily lives has increased, it has also become the focus of attention of criminals. However, experts said that blockchain technology, which is the basis of cryptocurrencies, is key in the fight against crypto criminals.
Dealing with crypto criminals and reducing the use of cryptocurrencies in crime was the focus of the 6th Global Conference on Crime Finance and Cryptocurrencies, held last week in The Hague, Netherlands, with the support of the Basel Institute of Management and hosted by Europol.
Crypto experts and financial researchers gathered at this conference agreed that due to its open nature, blockchain technology also provides authorities with a key way to combat organized crime.
Experts said that by nature, the blockchain network has the ability to track cryptocurrency transactions to a certain extent, and these unique features also offer an opportunity to investigate organized crime and money laundering networks and identify criminals.
The 6th Global Conference on Crime Finance and Cryptocurrencies was also attended by European regulators, experts from the world's largest cryptocurrency exchange Binance, and representatives of blockchain companies Chainalysis, CypherTrace and TRM Labs. Representatives of the important players of the market also said the following on the subject:
“While accepting that the use of cryptocurrencies has spread to almost every country and sector, facilitating new technologies, it is necessary to accept that they are widely used in the commission of crimes.”
Finally, conference attendees added that the fight against organized crime such as money laundering and drug trafficking requires the right tools, capacity and cooperation.
Europol says that “all parties involved in the fight against crime, such as law enforcement, regulators and the private sector, are working hard to prevent and catch those who misuse crypto assets for criminal and money laundering purposes.” said.